SandRidge Energy Shareholder Alert: Briscoe Law and Powers Taylor Investigate Possible Breaches of Fiduciary Duty by SandRidge

  SandRidge Energy Shareholder Alert: Briscoe Law and Powers Taylor
  Investigate Possible Breaches of Fiduciary Duty by SandRidge Officers and
  Directors

Business Wire

DALLAS -- December 12, 2012

Former United States Securities and Exchange Commission attorney Willie
Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation
firm of Powers Taylor, LLP announce that a federal class action lawsuit has
been filed against SandRidge Energy, Inc. (“SandRidge”) (NYSE: SD). The firms
are investigating additional legal claims against the officers and Board of
Directors of SandRidge during the period of February 24, 2011 through November
8, 2012 (the “Class Period”).

If you are an affected investor, and you want to learn more about the lawsuit
or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free
(877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie Briscoe at
The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.

It has been alleged that during the Class Period SandRidge and certain of its
officers and directors made materially false and misleading statements or
failed to disclose material information related to SandRidge’s business and
operations in violation of the Securities Exchange Act of 1934. Amongst other
things, it is alleged that SandRidge and the other defendants misrepresented
and/or failed to disclose that they had grossly overstated the proportion of
oil-producing versus natural gas producing assets and that they were going to
sell the company’s highest-margin producing assets. In reaction to the
company’s disclosure of these facts on November 9, 2012, the price of
SandRidge stock fell from $6.10 per share to $5.51 per share, or 9%, which was
more than six times the average daily trading volume over the prior three
month period.

“Recent revelations about the SandRidge’s alleged false statements and
misrepresentations about its business operations have prompted the firms to
investigate possible breaches of fiduciary duties and other violations of
state law by SandRidge’s officers and directors. Based on our investigation,
we are prepared to pursue litigation to preserve the company and the value of
SandRidge stock for all shareholders, including seeking removal of certain
officers and directors and monetary payments,” said shareholder rights
attorney Patrick Powers.

The Briscoe Law Firm, PLLC is a full service business litigation, commercial
transaction, and public advocacy firm with more than 20 years of experience in
complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of
complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits, and
security class actions.

Contact:

Powers Taylor, LLP
Patrick Powers, 877-728-9607
patrick@powerstaylor.com
or
The Briscoe Law Firm, PLLC
Willie Briscoe, 214-706-9314
WBriscoe@TheBriscoeLawFirm.com
 
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